TOWN OF EASTON, MARYLAND

Tax Rate Workshop

December 13, 2005

PRESENT AT CONVENING

Mayor Robert C. Willey                                              

President John F. Ford                                    

Councilmember Maureen Scott-Taylor

Councilmember Leonard E. Wendowski, Sr.                

IN ATTENDANCE

Also in attendance were Town Clerk Robert Karge, Town Attorney Christopher Kehoe and Assistant Town Attorney Sharon Van Emburgh.

CONVENING

At 6:00 p.m., the President of the Council called the meeting to order.

MEETING

The Town Clerk presented Town Fiscal Issues. He discussed cash flow problems, commitments made for capital improvements and personnel issues. Mr. Karge discussed demands for services, required accounting changes and the decline in the Town Bond rating due to the Town’s financial condition.

Mr. Karge discussed options available which include an increase in revenue, a decrease in spending or balancing some combination of both.

Mr. Karge discussed the steps taken.

• Previous adoption of Reserve Funds Policy (Resolution No. 5859).
• Significant Reductions in Amounts Requested in Current Budget.
• Borrowing for Cash Flow Purposes.
• Aggressive control of benefits and consideration of available options.

Mr. Karge discussed the declining General Fund Balance.

ADJOURNMENT

The President of the Council adjourned the workshop meeting at 7:06 p.m.

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Town Clerk